The Edmonton Oilers began their rebuilding project two years ago when they made Taylor Hall the No. 1 pick in the NHL Draft. Now, Edmonton has ensured the skillful winger will be there to finish the job.

Hall agreed to a seven-year, $42 million contract extension with the Oilers on Wednesday, a deal which will run through the 2019-20 season. Hall still has one year left on his entry-level contract and would have been a restricted free agent next summer.

“It’s been something I’ve been thinking about for a while, so it’s really exciting to get this new contract done,” Hall said, via the Oilers’ Twitter feed. “Obviously I want to be here, so I’m thrilled. I’m comfortable to be here for that long.”

In two seasons, Hall, 20, has scored 49 goals with 46 assists in 126 games. Injuries have been an issue for Hall, who is listed at 6-1 and 194 pounds. He played 65 games as a rookie and 61 last season.

Getting the deal done with Hall now means that neither he nor the Oilers will have to worry about the possibility of contract limits in a new collective bargaining agreement. The NHL has proposed capping contracts at five years, which has led to a flurry of long-term deals around the league.

Next up for the Oilers is an extension for their 2008 first-round pick, Jordan Eberle, who led Edmonton with 34 goals, 42 assists and 76 points last season.

“His (extension) should be pretty soon,” Hall said. “He wants to be here, too, and him and I are following the same path.”

Hall was the first of three consecutive No. 1 picks for the Oilers, who selected Ryan Nugent-Hopkins with the top pick last year, and Nail Yakupov two months ago.

While Edmonton has used its high draft position to add forwards, the Oilers signed Justin Schultz as a free agent after the defenseman failed to reach an agreement with the team that drafted him, the Anaheim Ducks.

The Oilers, who finished 21 points out of the playoffs last season, did not have a player signed beyond 2015 until Hall’s extension.